ArchivesI’m a programmer, and I’m really excited about Bitcoin. I’m even more excited about opportunities it brings.
Removing all the hassle which is associated with handling money for startups is one thing (it’s particularly important for inhabitants of ass-backward countries), but there is also some sci-fi level stuff which is now possible. Say, advanced contracts which can be enforced via blockchain. (See also: smart property, agents. )
Completely decentralized, anonymous markets for financial instruments and predictions: it would potentially allow anybody in the world to invest into anything, including price changes and news. (See also: assassination market. )
Also Bitcoin technology can be used as a basis for decentralized Ripple implementation, which might have a profound effect on economies: people won’t be bound to money they have, lending from social network would become trivial. (It can also help with bitcoin p2p exchange and loans, making bitcoin available to wider masses. )
These are just things which come to my mind, I’m sure there are more of amazing things which can be built with help of and for Bitcoin.
So what makes me sad?
Some people can throw around crazy amounts of Bitcoins for shits and giggles, but very little goes towards developers who can make sci-fi level shit a reality.
You probably know what I’m talking about. I cannot blame people who have invested in various HYIP schemes (or mining, for that matter), they just want to get profit out of it, but when, say, somebody bets like 5000 BTC just to make a statement, I can’t help but think what this money could enable if they it was not spent on a bet.
For example, $5000 could allow some programmer to take a break from his day job for like a month so he could spend it on some cool Bitcoin project. For some good programmer it’s enough to build a cool thing like a p2p exchange or one of things I’ve mentioned above.
So 5000 BTC, which is about $50k now, could finance a lot of great things, it can be a huge step towards the future. It could fund a ‘killer app’. Or maybe not, but it’s worth trying.
Instead we are discussing whether certain HYIP is Ponzi or not…
This is why I’m said.
tl;dr: Developers! Developers! Developers! Developers!
(I’m posting via an alt account because I don’t want to associate my real identity with this rant. )